ASX 200 ends week down; NSW fast tracks Santos Narrabri project, BlueScope tried to fix steel prices

ASX ends the week down despite Friday's gain; iron ore rises above $US110; NSW fast tracks Santos' Narrabri project; Star cops $100m fine and suitors eye Clough.

Financial markets are bracing for next week’s US inflation numbers, rates decision amid China’s reopening. Picture: Gaye Gerard

Welcome to the Trading Day blog for Friday, December 9. The Australian sharemarket snapped a three-day losing streak as iron ore miners rally by more than 3 per cent.

The S&P/ASX 200 index advanced 0.5 per cent, or by 37.70 points, to 7213.20. For the week, the index fell 1.2 per cent - its biggest weekly drop since late September.

The dollar was buying US67.93c at the close.